U.S. apparel giant Gap Inc. said its executive vice president and chief financial officer, Sabrina Simmons will be leaving the company. She will remain on board through the end of the 2016 fiscal year, “ensuring a seamless transition over the coming months.”
“Throughout her 15-year tenure, Sabrina has been one of our most passionate and respected leaders. She was critical in establishing Gap’s capital structure framework and maintaining operating discipline across the enterprise, both of which have delivered significant value to our shareholders,” said Art Peck, chief executive officer of Gap Inc.
Since joining Gap in 2001, Simmons served in several roles including vice president and treasurer, and executive vice president. She served as the company’s CFO since late 2007.
“Since I assumed the CEO role two years ago, Sabrina has been an instrumental partner in helping the company transition to a new leadership team,” added Peck.
“With that period of transition behind us, Sabrina and I agreed that this was an appropriate time for a change in the organisation and for her to pursue the next chapter in her career. Sabrina and I will work together to ensure an orderly transition in the coming months. Most of all, I am grateful for her partnership and for all that Sabrina has contributed to Gap.”